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Rule of law related case law
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Introduction
Different countries’ economies can be broken down into subsections based on a number of factors. One of these sections is based on their income. The first of which is lower-income economies. In these economies, the average income is at $1,035 or less. There are middle- income economies with incomes falling between $1,036 and $12,615. And lastly there are higher-income economies which bring in $12,616 or more. We have chosen to study and analyze economies in each income level: Kenya from the lower-income economy, Jamaica from the middle-income economy, and Netherlands from the higher-income economy. The information can be gathered from two different indexes: Economic Freedom and Doing Business.
Review of Indexes
The first of these two indexes is the Index of Economic Freedom. The Index of Economic Freedom is published each year by The Wall Street Journal and The Heritage Foundation. An economically free society, government only intervenes when necessary. Capital and goods is able to move freely without intervention from the government. This allows for a more successful society. The index measures economic freedom based on ten different factors which are grouped into “four pillars of economic freedom”. These “pillars of economic freedom” are: rule of law, limited government, regulator efficiency and open markets. The first subsection of rule of law is property rights. This is an evaluation of the ability of individuals to own private property and have these rights enforced by the state. The second subsection is freedom from corruption. Because corruption is detrimental to economic freedom by instituting instable relationships between economies, it is imperative that an economy remain free from it.
The second pillar...
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...cessful modernized country. With some major readjustments, Jamaica and Kenya have the capability to become thriving and successful nations.
References
"About The Index." 2014 Index of Economic Freedom. Heritage Foundation. Web.
"Jamaica: Country Overview." Encyclopedia of the Nations, n.d. Web. 04 May 2014.
"Jamaica." Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. The Heritage Foundation, n.d. Web. 04 May 2014.
"Kenya." Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. The Heritage Foundation, n.d. Web. 04 May 2014.
"The Netherlands." Economy: Population, GDP, Inflation, Business, Trade, FDI, Corruption. The Heritage Foundation, n.d. Web. 04 May 2014.
"Netherlands." The World Fact Book. Central Intelligence Agency, n.d. Web. 02 May 2014.
World Bank. "About Doing Business: Measuring for Impact." World Bank, 2011. Web.
“Jamaica’s a country of great dichotomy. On the one hand you have a tourist industry with great beaches and resorts, but on the other you have such great poverty and the violence that goes along with that.”(Michael Franti) In this paper, I will talk about the geography, the history of Jamaica, the people that live there now and that lived there in the past, the lifestyle of the society, and the society, like the government and economy.
The World Bank. The Road to Sustained Growth in Jamaica. Washington, DC: The International Bank for Reconstruction and Development / The World Bank, 2004. Print
Country Reports on Economics, Policy and Trade Practices: Courtesy of UM- St Louis. (2000). Available:gopher://gopher.umsl.edu:70/00/library/govdocs/crpt/crpt0029
"Jamaica Unemployment Rate - Economy." Index Mundi - Country Facts. Index Mundi, Mar. 2011. Web. 19 Sept. 2011. .
The situation became even more complex when the British colonial administration introduced a currency-based income tax system. For centuries, the Kenyan economy had largely rested on the exchange of livestock and other goods. With this in mind, it should come as little su...
"Gross Domestic Product." International Encyclopedia of the Social Sciences. 2008. Retrieved January 09, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2-3045300969.html
Located in the Great Lakes area of East Africa, Kenya is home to an estimated 47 million. The country, covering over 223,000 square miles is bordered by Ethiopia and Sudan to the north, Uganda to the west, Tanzania to the south, and Somalia to the east. The areas around the coast of the Indian Ocean present a tropical climate, while the highlands are more temperate. There is no specific cultural normality with the nation because of such diverse ethnic backgrounds. As much of Kenya is riddled with poverty, her economy is based on labor-intensive industries, such as mining, manufacturing, mining, forestry, and agriculture. The
The economics of Haiti has deceased in the last 4 years after the devastating earthquake that struck it 4 years ago. The Haiti economy has become very poor and one of the poorest country in the south, Central America and Caribbean region making it ranked 24 out of 29 countries in this area and its overall score is below average. Haiti’s economic freedom is 48.1 making it economy the 151st freest country while in the last several years Declines in the management of government spending, freedom from corruption, and labor freedom make its overall score 2.6 points lower than last year. Recovering from the disastrous earthquake in 2010 with the support of the U.S. recovering efforts “Haiti’s post-earthquake reconstruction efforts continue, assisted by substantial aid from the international community. Governing institutions remain weak and inefficient, and overall progress has not been substantial. The parliament has not renewed the mandate of the Interim Haiti Recovery Commission, which had been tasked with overseeing reconstruction efforts but was unpopular.”( .heritage.org). The open market of Haiti trade weighted to be 2.1 this is because the lack of tariffs hamper the trade freedom of Haiti. Foreign investors are given national treatment but the investment is small and the financial sector is remained underdeveloped and does not provide any adequate support.
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